No More Pennies?!?

[Advent_Author 0]

The government is talking about getting rid of pennies because of it's low value, and because it's costing more than a penny is worth to make them!

They're also talking about removing the nickel for the same reason! What's your take on this?
I personally think that they should get rid of the penny, but not the nickel.

here's a link to an article I found about it: Click It!

[God-Of-Earth 0]

Im english and i would get rid of some of our currency. We have 1p 2p 5p coint and there a pain in the *bottom*. Anyway id get rid of the pennie but how much is a nickle are the coins a *BLEEP* to carry around with you.

[Advent_Author 0]

nickel=5 penniesIt's not that bad to carry around, but the penny I have problems with

[Madkat-Z 0]

Ok, I'm against this because its just another way for the govement to get more of our money. Instead of rounding everything two desimal(excuse my spelling) places, it would only be one. Eventually those pennies and nickels will start adding up to where you could be losing a good $50.00 a year. I'm not trying to be greedy, but I give enough money in taxes and they are not doing a good job spending it. So why should I give them more? Plus, the added fact that if we where to go back into a depression, where only coin currency counted, we would all have less money.

[Panzer 0]

First of all remember i live in New Zealand!

Im english and i would get rid of some of our currency. We have 1p 2p 5p coint and there a pain in the *bottom*. Anyway id get rid of the pennie but how much is a nickle are the coins a *BLEEP* to carry around with you.

When i went to England they all weighed my wallet down lol, i used to chuck them out the window because they were sooo annoying.
The New Zealand government is really stupid listen to this....
We have 5c, 10c, 20c, 50c, $1, $2 coins.

The government are taking all the 5c, 10c, 20c, 50c coins back and are issuing a whole set of new coins...
New Zealand only has 4 million people in it (New York City has 6mill or something) but its a stupid idea...

[husker 0]

I think we need them. I agree with Madkat-Z. The government is just taking our money. All things not ending in 0 or 5 will be rounded up. Instead of 8.71 it would be 8.75. Even though the government is losing money, pennies are still important and would mess around with the way things work here.

[Tetraca 0]

They said this before, and that time it didn't work out. I doubt the penny will be gone this time.

[matto 0]

Pennies are worthless. It should be illegal to charge anything that isn't on the dollar, the fifty, or the seventy five. No $0.99 stuff. Then no more pennies will be needed :)But yeah, I say be gone with pennies. Nickles are necessary, though. As are dimes. Why don't they just change them all into smaller coins, and make them all more profiteable than the cost to make.

[Kubi 0]

Dimes aren't worthless! I use them a lot at school for the vending machine that only takes 2quarters and 1dime. Pennys...I never use em, You can't even put pennies into vending machines they're so small. But they're money. Someone saved around a hundred pennies a day, and in a few years he had 1.3million dollars! That's a lot! Pick up a penny, get a million. Pennies may be worth less then it takes to make em, but people make big bucks off of them.Making coins smaller would require you to replace just about every vending machine on earth. If I'm not mistaken vending machines look at prices by the size of the coin. If you lessened a quarter to t he size of a dime, that's all you're get from the machine.

[uiop 0]

It would be utter nonsense to eliminate the penny. Like other members of this forum have pointed out, eliminating the penny would require rounding (probably up) whenever a price didn't end in 0 or 5. Also, how would they go about eliminating the penny? Declare all the pennies in the world worthless and lose millions? Stop making pennies and create a fiasco with diffrent companies having diffrent penny policies?The current system is fine. Lets not fix somthing that isn't broken.

[beeseven 0]

It's not broken but it's breaking. As the article said, coins are supposed to make money for the government, but they're losing money on pennies. According to the U.S. Mint's 2001 Annual Report, 14 277 420 000 pennies were minted that year. Assuming it's a similar number now, that means that the government would lose .2 cents * 14 277 420 000 = 2 855 485 400 cents = $28 554 854. I can understand their wanting to get rid of the penny.

 

As for rounding off prices, most workers would say round up, but you could always do nearest 5: 0, 1, 2 = 0; 3, 4, 5, 6, 7 = 5; 8, 9 = 0. That way everyone would break even.

Edited July 8, 2006 by beeseven (see edit history)